Vident Advisory LLC Takes $82,000 Position in First Majestic Silver Corp. $AG

Vident Advisory LLC acquired a new stake in First Majestic Silver Corp. (NYSE:AG) (TSE:FR) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 12,200 shares of the mining company’s stock, valued at approximately $82,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Parallel Advisors LLC boosted its stake in shares of First Majestic Silver by 1,221.6% in the first quarter. Parallel Advisors LLC now owns 3,793 shares of the mining company’s stock valued at $25,000 after purchasing an additional 3,506 shares during the period. AlphaQuest LLC purchased a new position in shares of First Majestic Silver in the first quarter valued at approximately $29,000. Banque Cantonale Vaudoise purchased a new position in shares of First Majestic Silver in the first quarter valued at approximately $46,000. Captrust Financial Advisors purchased a new position in shares of First Majestic Silver in the fourth quarter valued at approximately $58,000. Finally, Focus Financial Network Inc. purchased a new stake in shares of First Majestic Silver during the first quarter worth approximately $67,000. Hedge funds and other institutional investors own 27.16% of the company’s stock.

First Majestic Silver Stock Up 10.3%

Shares of NYSE:AG opened at $10.40 on Friday. The company has a market capitalization of $5.07 billion, a PE ratio of -1,038.96 and a beta of 0.78. The company has a current ratio of 3.27, a quick ratio of 2.84 and a debt-to-equity ratio of 0.08. First Majestic Silver Corp. has a twelve month low of $5.09 and a twelve month high of $10.40. The firm has a 50 day simple moving average of $8.78 and a 200-day simple moving average of $7.39.

First Majestic Silver (NYSE:AG) (TSE:FR) last issued its quarterly earnings data on Thursday, August 14th. The mining company reported $0.04 earnings per share for the quarter, missing the consensus estimate of $0.06 by ($0.02). The company had revenue of $264.20 million for the quarter, compared to analysts’ expectations of $387.25 million. First Majestic Silver had a return on equity of 1.72% and a net margin of 1.78%.The firm’s quarterly revenue was up 94.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.07) EPS. On average, equities analysts predict that First Majestic Silver Corp. will post 0.54 EPS for the current fiscal year.

First Majestic Silver Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Friday, August 29th will be given a dividend of $0.0048 per share. The ex-dividend date is Friday, August 29th. This represents a $0.02 dividend on an annualized basis and a dividend yield of 0.2%. First Majestic Silver’s dividend payout ratio (DPR) is -100.00%.

Analyst Upgrades and Downgrades

AG has been the topic of a number of recent research reports. National Bank Financial upgraded shares of First Majestic Silver to a “hold” rating in a research note on Thursday, June 12th. Scotiabank upped their target price on shares of First Majestic Silver from $6.00 to $6.50 and gave the stock a “sector perform” rating in a research note on Wednesday, July 9th. Finally, HC Wainwright restated a “buy” rating and set a $12.75 target price on shares of First Majestic Silver in a research note on Friday, August 15th. One investment analyst has rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, First Majestic Silver presently has an average rating of “Hold” and an average price target of $9.63.

About First Majestic Silver

First Majestic Silver Corp. engages in the acquisition, exploration, development, and production of mineral properties with a focus on silver and gold production in North America. Its projects include the San Dimas mine covering an area of approximately 71,867 hectares located in Durango State, Mexico; the Santa Elena that covers an area of approximately 102,244 hectares located in Sonora State, México; and the La Encantada covering an area of approximately 4,076 hectares located in Coahuila State, México.